SS Reform a Scam

From: J K Walker (jkwalker_at_home.usa)
Date: 12/22/04 

Date: 22 Dec 2004 19:53:04 -0000

Apparently I am not the only guy who is upset by the privatization of
Social Security thing, and for proof of that, I proudly present
Llewellyn Rockwell, Jr., president of Ludwig von Mises Institute, who,
in his essay Save or Else, said "The movement to privatize Social
Security (fully or partially) may be the most ideologically
duplicitous and fiscally irresponsible I've seen in my lifetime.

"The money will continue to flow to older Americans, but not come from
present revenue. It will come from new funds. And where are these
funds going to come from? Among those who favor privatization, there
are two camps: the left wing suggests more taxes and the right wing
suggests more debt.

"The proponents say it is worth running up this level of debt because
it will save money later. But you know what? In the entire history of
government finance and government programs, I doubt that there is a
single one that didn't claim to save money in the long run. We have to
'invest' now in education in order to save money later on x, y, and z.
We must nationalize the health care system now so that we can save
money later that will otherwise be spent on ballooning costs. We must
go to war now to prevent a worse war later.

"This is the staple rhetoric of all government programs from time
immemorial. When a robber comes to your door and says he wants your
television and stereo now so that he won't have to take your car and
kid next week, you might comply, but you shouldn't believe he is doing
you a favor." Hahaha! Bravo! Well said!

He adds, "It is a disastrous decision to create an additional forced
savings program that is wholly unnecessary, and will bring about vast
distortions in the stock market." To that I add; distortions, yes. But
also higher stock prices for a while longer, and that will forestall
the imminent collapse of the stock market. THAT is the whole freaking
point of it. That this is just another transparent and slimy little
scam perpetuated by government and their little playmates in the
financial industry, necessitated by hitching the economy of the United
States to inflation in assets, goes without saying.

Jay Taylor of MiningStocks.com newsletter has written on this very
topic in an essay, Catch-up With Gold in 2005. He writes, "Since the
empire makes all the rules, it can do, and is obviously doing,
everything within its power to keep the status quo alive and well.
That's why, as Richard Russell argues, the Fed will fight deflation
tooth and nail because if/when deflation gets the upper hand, the
empire will suffer a serious, if not fatal, decline, given our
enormous indebtedness."

I will go even farther than that. I will say that this coordinated
action could possibly explain why it is that almost everybody involved
in the oversight of the last Presidential election was so gung-ho on
having balloting machines that had no paper trail, so that the results
could not be verified. Only a real first-class bozo could possibly
believe that the election could not be "fixed," and only a nation as
full of morons as the United States would roll over for such a thing
without even a whimper. And if the American people are so incredibly
naive and stupid as to allow such a transparent fraud in something as
simple as an election, then pulling the wool over their eyes as far as
economics is concerned is going to be a breeze!

Richard Daughty

Relevant Pages

  • Re: AFTERNOON SENSITIVITY
    ... You mean returning some portion of the money to the children that the ... I'm glad that sanity blocked King George II from privatizing Social Security. ... If you were honest, you would be forced to admit that Tim Daneliuk is entirely correct, that if instead of structuring Social Security as it is, FDR had proposed a government overseen and guaranteed investment bank instead. ... A classic illustration of the principle that government programs that substitute for personal responsibility inevitably produce *more* dependency - not less. ...
    (alt.smokers.pipes)
  • Re: NYT: Bush to Propose Vast Cuts in Medicare
    ... Many argue for privatization, but, speaking as one who lost ... Kind of hard to believe that anyone would have lost that much money in the ... had a total portfolio that was worth a whole lot more than $300,000, ... that doesn't help your investment in the ...
    (soc.retirement)
  • Re: NYT: Bush to Propose Vast Cuts in Medicare
    ... Many argue for privatization, but, speaking as one who lost ... Kind of hard to believe that anyone would have lost that much money in the ... had a total portfolio that was worth a whole lot more than $300,000, ... that doesn't help your investment in the ...
    (soc.retirement)
  • Re: NYT: Bush to Propose Vast Cuts in Medicare
    ... Many argue for privatization, but, speaking as one who lost ... I'm not at all keen on trusting any more of my money to ... that doesn't help your investment in the ...
    (soc.retirement)
  • Re: Generators Revisited
    ... it will usually get more money ... >>> vast majority of government programs to expend every last cent they>>> can ... >>> so that they get a bigger budget the next year. ... > of the lake, you lose as also all the Lee haters, he got it fair and ...
    (rec.scuba)
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